Sell below 133.41. Stop loss at 134.30. Take profit at 131.96. Reason for the trading strategy (technically): Price has shot up and is reaching our profit target. We look to close off our position and start selling because of the changing elements. The goal is to sell below 133.41 resistance (Fibonacci retracement, horizontal pullback resistance) for a push down to at least 131.96 support (Fibonacci retracement, Fibonacci extension, horizontal swing low support). RSI (34) sees major resistance at 68% and is fast approaching that level where we expect a corresponding reaction from.
Could you please explain your strategy a bit more for me to learn?
nibozekno
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I like your analysis. It is simple and clean. Not like many other authors out there which have too cluttered charts and you don't understand what they mean.
rucajuzovut
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Great idea! I always look out for your trading ideas as they're very easy to understand! Thanks MEX_Exchange!